The Legal 500

Business interruption insurance is often a key component of a company’s business continuity plan. The insurance is designed to compensate an insured for the financial effect of the interruption or interference to that business as a result of physical damage to an insured property or other key external events, such as damage at a supplier’s or customer’s premises. The intention is to restore the business to the same financial position as if the loss had not occurred, subject always to the terms and conditions of the policy. 


Introduced in August 2011, Statute 4001/2011 on the Electricity and Natural Gas Markets has set de novo Greek energy legislation. In this chapter, Kelemenis & Co., which acted as the legal advisor to the Greek Ministry of Energy in drafting the new energy law, sets out, in a Q&A format, all key provisions for both the electricity and gas sectors.

The sovereign debt crisis has caused successive revisions of Greek tax legislation. In this chapter, Kelemenis & Co. deals with the key provisions of Greek corporate tax legislation as currently in force whilst focusing on themes which are of high importance to both foreign and domestic investors.

In this newsleer A. Reduction of minimum salaries and wages B. Amendment of framework on Collective Labour Agreements C. Changes in the Mediation and Arbitration System D. Suspension of salary increases based on seniority E. Qualification of employment contracts due to expire upon a certain age or upon completion of pension requirements as indefinite- term contracts.

Recent labour law reforms in Greece significantly modify the labour scene regarding the employees working hours, their salaries and severance payment and other employment matters. All changes have been made in the spirit of preserving employment, increasing cost reduction and boosting competitiveness.

Informa+on on Greek Memorandum of Understanding and PSI

1) minority shareholders rights and shareholders agreements, 2) S.A. taxation, 3) antitrust regulations, cartels and abuse of dominance, 4) state aid, 5) environment & industry, 6) spatial & urban planning, land uses, 7) personal data protection.

Pistiolis-Triantafyllos & Associates law firm has one of the most dynamic and business-oriented corporate employment & labour law practices in Greece. We represent national and international corporations and we make it our business to keep up with the ever-changing complexities of employment law, so corporations can focus on running their business. Employment law is one of the most rapidly changing areas of our legal system. Against a backdrop of new legislation, regulations and reported cases, maintaining best practice is a real challenge.

The Hellenic Competition Commission (HCC) recently issued decision 526/VI/2011, by virtue of which it adopted a “second generation” leniency program, which is fully aligned with the relevant EU provisions and practices.

Update on the regulative framework of PV development following the recent enactment of Law 4001/2011 and the revised Regulation of Electricity Generation Licences for RES plants in Greece.